Including an extensive testing programme in the event of success, the
drilling time from spud to completion is expected to be around 33 days.
At this depth, the well is targeting the Cretaceous Rex sands with
drilling time estimated to take two weeks.
If a critical valve leaks, then the BOP may have to be pulled and this would inevitably lead to multiple days of lost
drilling time. The associated costs of this inactivity would soon spiral as the outlay of running a rig can exceed $700,000 a day, while the operator suffers higher costs and downtime is a further delay to actual oil production.
It also seeks to reduce
drilling time by 30 per cent by end 2019.
And, importantly, to drive efficiency across our entire value chain, from reducing
drilling time to maximising the value of every barrel we produce," Dr Al Jaber said.
The partnership will see Adnoc come closer to its target of a 30% reduction in
drilling time by the end of 2019.
The design of the bit causes less vibration on the PDC cutting structure, which allows the bit to be more durable and long-lasting, while improving efficiency, saving
drilling time and money.
It can reduce
drilling time by half, in some cases.
It remains on track to expand oil production capacity to 3.5 million barrels a day by the end of 2018, and to improve
drilling time by 30 per cent by 2019.
Summary: ADNOC CEO Dr Sultan Al Jaber has said the oil giant will aim to cut oil
drilling time by "30 …
He also mentioned that record 43 wells were drilled in operated and partner-operated assets while deploying highest-ever 13 rigs operation with remarkable reduction in
drilling time and cost.